Tag Archives: Turnarounds

Interview with Dan Ritchie Former Chancellor, University of Denver Leaders Speak Series Dan Ritchie was the Chancellor of the University of Denver (known locally as DU) from 1989 through mid-2005, a particularly challenging time. Prior to that post, Ritchie was an executive at MCA-Universal and then CEO of Westinghouse Broadcasting before taking up ranching in Colorado. Ritchie is currently the Chairman and CEO of the Denver Center for the Performing Arts and Chairman Emeritus of DU. In the 1980s, DU was in crisis, borrowing money to make payroll with over $60 million in deferred maintenance on buildings. Ritchie enlisted cable television pioneer Bill Daniels, a leading proponent of values-based leadership, for financial support. Daniels donated $11 million as a challenge grant, asking the business school to incorporate business ethics into its core …Continue Reading

Interview with Steven Rothstein President, Perkins School for the Blind Leaders Speak Series Founded in 1829, Perkins School for the Blind operates in more than sixty countries with revenue of over $50 million. It offers free audio, Braille and large print books, and hundreds of newspapers by phone. The operations are complex, including a school, early intervention program, library, teacher training initiatives, publishing house, manufacturing division, technology division, and special services for the elderly. Marty Linsky, who teaches leadership at Harvard’s Kennedy School of Government, described Perkins and its President, Steven Rothstein, to us: “Rothstein took an organization that had barely left the 19th century and turned it into the signature organization in the world in services to the blind. He is in my managerial hall of fame. He has completely …Continue Reading

Leadership insights from John Krol Former chairman and CEO, DuPont Leaders Speak Series E. I. du Pont de Nemours and Company, commonly referred to as DuPont, is one of the world’s largest chemical companies. It was founded in 1802, and its stock is a component of the Dow Jones Industrial Average. John Krol joined DuPont in 1963 as a chemist and rose through the ranks to be its chairman and CEO. He has been active on many corporate and nonprofit boards, including Tyco International (for which we interviewed him for Triple Crown Leadership). In that interview, Krol also shared insights on his leadership challenges at DuPont. Here are excerpts: Krol: Back in the 1980s, the world changed for DuPont because of globalization. We were very slow to move. DuPont was based …Continue Reading

For turnarounds to work, leaders must establish psychological stability in the organization. Too many turnaround leaders focus only on financial stability and neglect this critical element. In the turmoil of a turnaround, many people are demoralized, afraid, or angry. Some feel misled or on the verge of panic. Logo-inscribed ball caps stay in the closet. Some people bail quickly while others are out looking for new jobs. The turnaround leader must establish not only financial stability but also psychological stability. People need to be unfrozen, empowered to work on critical projects with confidence. At a successful turnaround Bob led, where the extreme negative cash flow flipped to healthy positive in a few years, he began to establish psychological stability through an all-day senior staff meeting early in the turnaround. Here …Continue Reading

Interview with Ursula Burns Chairman and CEO, Xerox Leaders Speak Series Ursula M. Burns is chairman and CEO of Xerox. With sales approaching $23 billion, Xerox (NYSE: XRX) is the world’s leading enterprise for business process and document management. Burns joined Xerox in 1980 as a mechanical engineering summer intern and then worked her way up to the top. Alongside then-CEO Anne Mulcahy, Burns worked to restructure Xerox through its turnaround. Burns became CEO in 2009. Today, she leads the 140,000 people of Xerox who serve clients in more than 160 countries. Burns is also a board director of the American Express Corporation and provides leadership counsel to the National Academy Foundation, MIT, and the U.S. Olympic Committee. In 2010, U.S. President Barack Obama appointed Burns vice chair of the President’s Export …Continue Reading

Interview with John Krol and Ed BreenTyco International Leaders Speak Series John Krol was elected to Tyco’s board in 2002 and served as lead director until 2008. He is the former chairman and CEO of DuPont. Edward Breen was chairman and CEO of Tyco from 2002 until September 2012, when the company separated into three public companies. Breen is currently non-executive chairman of the Tyco board. Prior to joining Tyco, Breen was president and COO of Motorola. Krol and Breen took over the leadership of Tyco International after its former CEO and CFO were jailed. The company, once a Wall Street darling, had fallen into an abyss. We interviewed them about their early leadership moves at Tyco for Triple Crown Leadership: What were the priorities when you arrived at Tyco? …Continue Reading

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